A spokesperson for Findex Group has confirmed to Risk Adviser that the non-aligned group will transition away from its current hybrid commission model to a fee-for-service model from 1 July 2015.

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“Findex and Centric Wealth – one of its companies – will move to a fee for service model for insurance and over the next few months Crowe Horwath will also convert to a fee for service model,” they said. “They will get rid of commissions completely.”

In an upcoming article for Risk Adviser, Findex Group chief executive Spiro Paule lays out his vision for the life insurance industry.